CapitaLand chases faster growth with restructuring, planned listing of CLIM

CAPITALAND on Monday said the proposed overhaul of its structure is meant to sharpen the group's focus on strategic growth and create shareholder value.

The real estate behemoth is looking to split itself into two: the real estate development business will be placed under private ownership, while the investment management platforms and lodging arm will be consolidated into a newly created entity.

CapitaLand Investment Management (CLIM), to be listed on the Singapore Exchange (SGX), will hold the managers of all the group's listed real estate investment trusts (Reits) and business trusts, as well as selected unlisted funds currently managed by CapitaLand. The lodging business, including the serviced-residence management platform under The Ascott Limited, will also become a part of CLIM.